4/11/2021 8:44 AM, BAAKOMB
Komern banka rno reported good results for 3Q. The strong activity of corporate clients in the financial markets supported the profit from financial operations and fees. Operating profit was supported by years of revenue, and the net profit was then a significant decrease in provisions. A conference call will be held at 14:00, so the NB’s decision on rates at 14:30 will be monitored. We evaluate the results positively.
| Projection of Komern banka’s finances for 3Q 2021 | |||
|---|---|---|---|
| in mil. K | 3Q 2021 | Consensus 3Q 2021 | 3Q 2020 |
| same years inputs | 5 390 | 5 245 | 5 255 |
| ist fees and commissions | 1 376 | 1 397 | 1 234 |
| Other operating inputs | 1 058 | 859 | 773 |
| Operating inputs | 7 823 | 7 501 | 7 263 |
| Operating costs | (3 522) | (3 494) | (3 482) |
| Operating profit | 4 300 | 4 007 | 3 781 |
| Risk costs | (51) | (220) | (1 678) |
| is zisk | 3 432 | 3 031 | 1 646 |
is years input meziron increased by 3%, while analysts expected stagnation on average. The decline in the same year’s margin from 1.80% to 1.68% of the tax margin on consumer finance was offset by the growth of the upper portfolio.
is vnos zfee and commission meziron increased by 12% and fell slightly short of estimates. The bank managed to increase mainly revenues from financial and advisory services to corporate clients in the debt markets (+ 37% to CZK 235 million) and sales fees (+ 19% to CZK 420 million) due to the return of mutual funds and life insurance.
Other inputs increased by 37%. Komern banka recorded this strongly is zisk zfinannch operac (mezzanine + 41% to 1 billion K) thanks to the client for a good year and the exchange rate, but also due to the solid volume on government bonds and their own trading.
Total operating income increased by 8%, while operating expenses by only 1%. Operating profit so mesiron increased by 14% and was 7% higher than the average estimate.
Risks of risk Internationally, they fell sharply from K1.678 billion to K 51 million (for consumer loans, dispersal provisions for K 95 million, for corporations were created for K 149 million and the plant was concentrated on a small number of clients), while analysts awaited the creation of new provisions in the amount of 220 million K.
Komern banka thus reported more than twice as much is zisk 3.432 billion CZK, which exceeded the average estimate by 13%.
vrov portfolio, deposits and cap
The level of the roughly mezzanine portfolio increased by 4.7% to CZK 724.8 billion, with mortgages (+ 6.8% to CZK 258.3 billion) and 72.5 billion CZK). On the other hand, companies increased by only 1.6% to CZK 361 billion and the volume of consumer goods fell by 1% to CZK 33.1 billion.
Meziron client deposits increased by 12.1% to 1043.1 billion K. According to meziron deposits, it decreased from 73.2% to 68.1%. According to vr vselhn (NPL), mesiron increased from 2.3% to 2.7%.
Tier 1 meziron increased from 20.9% to 22.5%.
Insight
Komern banka has increased its full-year insights, which is now slightly higher (two stagnant) due to the same year’s red-zero yields, reflecting the development of rates (two slightly lower) and the exchange of profit from financial operations. Operating costs should be stable and the risk of interim risk.
Komern banka now increases the growth of the equilibrium portfolio by one hundred percent (two middle units for the consumer and the middle unit for the corporation).
After a year, Komern banka informed about the state of implementation of the strategy until 2025. Management is convinced of the availability of financial duties. Among other things, Komern banka expects client growth over 2 million and a decline in the cost-to-income ratio below 40%, with a marked improvement in 202425, driven by new inputs and disputes over the introduction of a new digital bank, and mentions the possibility of inorganic growth.
Following the implementation of components of inorganic growth and the assumption of normalization, the cost of risk at the level of 25 basis points, the KB Group strives to exceed 15% of the return on equity in 2025, the company said.
Shares of Komern Bank
Prior to the results, the shares of Komern banka (BAAKOMB) closed at 888 K on the stock exchange and at 890 K on the RM-SYSTM stock exchange.
Source: Komern banka
Jan Tomnek, Fio Bank, as
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